Trump administration must defend and protect U.S. innovation

PhRMA recently submitted comments to the Office of the United States Trade Representative (USTR)’s Special 301 Report, calling on the Trump administration to defend American biopharmaceutical innovators and jobs by ending market access and intellectual property barriers in 24 leading economies around the world.

There were three key takeaways from the submission:

• Discriminatory practices abroad free ride on American innovation and put U.S. jobs and exports at risk.
  
  The United States leads the world in the research and development of new medicines and vaccines, but when foreign trade barriers undervalue U.S. biopharmaceutical innovation, it threatens American jobs and exports.
  
  
• The United States must use all available tools to ensure our trading partners honor their obligations, end these discriminatory practices and level the playing field for American inventors and workers.
  
  Urgent action is needed particularly to reverse compulsory licensing practices in Malaysia and to end damaging pricing policies in several markets, including Canada, Japan and South Korea.
  
  
•  Standing up for American innovators delivers results.
  
  As a recent example of progress, the U.S.-China Phase One Trade Agreement includes intellectual property protections that are essential to drive and sustain biopharmaceutical innovation.

The 2020 Special 301 Report is an important opportunity to advance the Trump administration’s commitment to opening overseas markets and to ensure America’s trading partners adopt high standards of intellectual property protection and enforcement. To view PhRMA’s complete 2020 Special 301 submission, please click here.